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Home Daily Market Update  AFTERNOON MARKET UPDATE; Aug.22
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Friday, August 22, 2014

AFTERNOON MARKET UPDATE; Aug.22

by DTN

AFTERNOON LIVESTOCK COMMENTS
John Harrington, DTN Livestock Analyst

GENERAL COMMENTS: Light trade was reported in feedlot country Friday with some live deals noted in the North at $155, about $1 lower than last week but several dollars higher than early week business. Final trade volume totals for the week look rather small with asking prices firming as futures recovered. According to the closing report, the Iowa hog base is $0.57 lower compared with the Prior Day settlement ($93.00-$96.50, weighted average $95.30). Corn futures closed higher, up 3 1/4 in the September, up 2 1/2 in the December and March contracts.

LIVE CATTLE: Futures closed higher, up 67 to 220. Live cattle contracts staged a decent recovery on Friday, supported by late-week short-covering and profit-taking. Ideas of greater than expected cash stability also proved to be supportive. Positively, October through February managed to close the week above 100-day moving averages. The August 1 Cattle on Feed report was released this afternoon and proved to be generally neutral: on feed 98%; placed in July 93%; marketed in July 91%. Beef cut-outs: lower (choice, $249.77, off $0.69; select, $239.66, off $1.16) with light demand and light to moderate offerings (75 loads of choice cuts, 35 loads of select, 22 loads of trimmings, 12 loads of ground beef).

MONDAY'S CASH CATTLE CALL: Steady to $2 lower. Monday's activity will be limited to the distribution of new showlists. Late August offerings could be somewhat larger thanks to unsold cattle carried over. On the other hand, packers will start the week rather close to the knife.

FEEDER CATTLE: Futures closed higher, up 42 to 147. Feeder cattle contracts bounced higher thanks to late-week short-covering. The premium status of the cash index and ideas of a record feed harvest ahead were also supporting factors. CME cash feeder index: 08/21: 218.18, off $0.095.

 
 


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Myself and entire family are horse people. from the kids loving their rodeo horses to mom and dad needing their ranch horses... Best supporting sentence of this entire article: “Horses deserve better than to be abandoned, starved, or transported long distances in overcrowded trucks to slaughter in foreign countries”. Since auction yards in Nor Cal have stopped taking horses we have had a disgusting rise in abandoned horses dumped off on back roads, which are sick and hungry. Many get hit, which results in people getting hurt. Not Okay!! If people could haul the horse to slaughter before the health declines, that meat could feed people, or animals rather than cause the horse and people to suffer.
 
Think outside of the pen. The market is moving away from corn and grain by the end consumer. They are being educated to grass finished and the margins are better there using grass or Alfalfa. The key has always been water for the producer to produce hay and breed cattle that gain efficiently on forage.
 
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